Torrance, CA Experts in Container Rental, Sales & Customization

As we celebrate Black History Month, Americans are reminded that there is still progress to be made towards Martin Luther King Jr.’s vision of equality between races.

One aspect where there remains significant room for improvement is homeownership. A new data study from Today’s Homeowner with Danny Lipford sheds light on the wide and worsening gap in homeownership rates between Black and white Americans.

RALEIGH, N.C.--(BUSINESS WIRE)--Today, almost three in four white Americans own their home, while less than half of Black Americans can say the same. In fact, the gap in homeownership rates has actually grown wider from the civil rights movement to today.

With a newly released data study, researchers at Today’s Homeowner ask the pressing question: Are Black Americans being locked out of the American dream of homeownership?

Our team examined how homeownership has changed over time, current state-level gaps, and states’ progress towards closing their gaps. We analyzed nearly 300 cities, again identifying where the Black-white homeownership gap stands today and where the most progress has been made recently. The research team engaged experts in real estate, academia, and policymaking to help identify key historic and contemporary reasons for the persistent gap.

Today’s Homeowner with Danny Lipford, an authority in the home services space for 25 years, invites you to share our Black Homeownership Gap research findings with your readers to give them a comprehensive view of the racial homeownership gap and some potential solutions.

Here are some of our main findings:

We measured the Black-white homeownership gap as the difference between the Black homeownership rate and the white homeownership rate in a given area. These calculations were based on national, state, and city-level data on owner-occupied households from the Census Bureau’s American Communities Survey. In total, we compared all 50 states along with the District of Columbia and 293 cities with available data.

About Today’s Homeowner

Today’s Homeowner has been an authority in home improvement for 25 years. Drawing millions of monthly views, TodaysHomeowner.com provides how-to articles, videos and expert tips for maintaining and improving the home.

Saturday, April 15, 2023, from 11 a.m. to 3 p.m. at Barbeques Galore, 18225 Hawthorne Boulevard, Torrance, California 90504

TORRANCE, CA, USA, February 14, 2023 /EINPresswire.com/ -- The "Spring BBQ Cook-Off" event, which will take place on April 15, 2023, is announced by Barbeques Galore. The American Heart Association will receive a $1,000 donation in their honor during this influential barbecue cook-off, and all attendees and customers will have the option of contributing more money of their own.

At their Barbeques Galore Torrance location on the aforementioned date during the hours of 11 AM to 3 PM. The "Spring BBQ Cook-Off" event will include some top-tier grilling influences, including: Chris Apple: Chris Apple, a native of Philadelphia, is the culinary genius behind the renowned homemade rubs at White Bulls BBQ. Owner and founder of @whitebullsbbq, which was inspired by a friend's smoker and swiftly rose to prominence as one of the industry's most rapidly expanding BBQ brands.

Chuck Matto: TikTok barbecuing sensation and featured on “Fire Masters” on the Cooking Channel, Chuck Matto is a rising star in the grilling world with his enthusiastic personality and eye-catching food! The creative mind behind the TikTok sensation, @ChucksFlavor Train, Matto serves up both charm and fun with his deliciously barbecued food!

The following presenters will be honored by this magnificent event, the "Spring BBQ Cook-Off": George Lopez Brewing Co. Torrance's famous Brews Hall has teamed up with George Lopez to bring you all the fun and flavor of Mexican-style beers. Carefully developed and masterfully tested to pay tribute to authentic Mexican-style flavors, the George Lopez Brewing Co. is proud of its wide range of beers that will leave everyone happily bellowing "Ta Loco!"

Dickey’s Barbecue Pit Serving over 80 years of classic Texas barbecue, Dickey's Barbecue Pit has become one of America's largest family-owned restaurants for all things Texas barbecue. With more than 550 locations in 44 states, Dickey's Barbecue Pit stays true to its family legacy of authentic, slow-smoked Texas barbecue.

LAist believes in telling authentic stories that celebrate the lives and creativity of Los Angeles. Non-profit and member-supported, the LAist's mission is to elevate the city through great, accurate, and fact-based local news and journalism.

Free food, live music, raffles, giveaways, IG/TikTok food influencers, local small businesses, and free entrance will all be present at the event.

There will be no sales taxes applied to in-store transactions made on that day, which will add to the event's specialness. Please email Joe Acosta at Joe.acosta@bbqgalore.com if any nearby or small businesses are interested in taking part in our event.

About Barbeques Galore Barbeques Galore is the nation’s largest specialty retailer of grills and outdoor living products, established in the U.S. in 1980. We have retail stores concentrated throughout California, Nevada, Arizona, and Texas, where the sun shines often and outdoor living is a year-round indulgence. With millions of grill sales under our belt, we pride ourselves on the expert knowledge of our online customer service reps. and our in-store sales associates. They will always take the time to help you shop for the right grill for your home, business, or recreational activity. Whether it’s a small portable grill or a complete custom island we have options for every space and budget.

Joe Acosta Barbeques Galore +1 909-210-5578 email us here Visit us on social media: Facebook Twitter Instagram YouTube TikTok Other

SECTOR COMMENTARY:

The energy sector is poised for a mixed-to-lower start, pressured by weakness in the underlying commodities. U.S. stocks are set to begin the week higher, amid early gains in beaten-down mega cap growth stocks.

WTI and Brent crude oil are trading down as traders are concerned over short-term demand ahead of key U.S. inflation data which will provide more color on the Fed’s monetary policy. Following supply concerns caused last week, a cargo of Azeri crude set sail from Turkey's Ceyhan port on Monday, the first since a devastating earthquake hit the region on Feb. 6. Russia’s surprise announcement of their production cut in response to Western sanctions, continues to lend support to oil futures. According to Deputy Prime Minister Alexander Novak, Russia plans to sell more than 80% of its oil exports to what it calls "friendly" countries in 2023

Natural gas futures are down this morning as warmer-than-normal weather lowers heating demand in key consuming regions. The amount of natural gas flowing from pipelines to Freeport LNG's export plant in Texas was on track to jump this morning to its highest since the facility shut in a fire in June 2022, a sure sign the plant started liquefying gas again.

BY SECTOR:

US INTEGRATEDS

Chevron is considering an extension of Chief Executive Officer Mike Wirth's mandatory retirement age, the Wall Street Journal reported on Monday, citing people familiar with the matter.

Chevron said it had agreed to sell its assets in Myanmar to Canadian company MTI, in a deal that allows it to leave the Asian country.

INTERNATIONAL INTEGRATEDS

BP produced 1.6 million tonnes of oil in Azerbaijan in January, the energy ministry said.

CANADIAN INTEGRATEDS

No significant news.

U.S. E&PS

No significant news.

CANADIAN E&PS

No significant news.

OILFIELD SERVICES

KBR announced its Board of Directors has declared a regular quarterly dividend of $0.135 per share on the company's common stock, par value $0.001 per share, to be paid on April 14, 2023, to stockholders of record on March 15, 2023.

The Board of Directors of Vulcan Materials declared a quarterly cash dividend of $0.43 per share on its common stock. The dividend will be payable on March 20, 2023, to shareholders of record at the close of business on March 6, 2023. The new quarterly dividend represents an increase of 7.5 percent from $0.40 to $0.43 per share.

DRILLERS

No significant news.

REFINERS

According to Reuters, PBF reported leak contained at Torrance, California Refinery.

According to Reuters, Phillips 66 reported flaring at Wilmington, California Refinery.

MLPS & PIPELINES

Williams announced that its Board of Directors has appointed Carri Lockhart as an independent director on the Board, effective Feb. 10, 2023.

MARKET COMMENTARY

Wall Street futures were mixed in choppy trading and Treasury yields rose, as markets continued to reposition for tighter monetary policy from the U.S. Federal Reserve, a day ahead of the release of inflation data. The dollar firmed, weighing on gold prices. European shares edged higher as defence stocks jumped on news of India aiming to triple its defence exports. Japan’s Nikkei ended lower, tracking a fall in Nasdaq in the previous session. Oil prices fell on short-term demand concerns.

Nasdaq Advisory Services Energy Team is part of Nasdaq's Advisory Services – the most experienced team in the industry. The team delivers unmatched shareholder analysis, a comprehensive view of trading and investor activity, and insights into how best to manage investor relations outreach efforts. For questions, please contact Tamar Essner.

This communication and the content found by following any link herein are being provided to you by Corporate Solutions, a business of Nasdaq, Inc. and certain of its subsidiaries (collectively, “Nasdaq”), for informational purposes only. Nasdaq makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Sources include Reuters, TR IBES, WSJ, The Financial Times and proprietary Nasdaq research.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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For a rising share of car owners, monthly auto loan payments appear to be evolving into a problem.

While borrowers who are behind on their payments by more than 60 days represent a tiny portion of all outstanding auto loans — 1.84% — their ranks are growing, according to a recent report from Cox Automotive. The share was 26.7% higher in December than the year-earlier month and is largely concentrated among borrowers with low credit scores.

“The danger of struggling to pay an auto loan is not just risking your car getting repossessed, it’s the long-term impact on all of the other areas of your finances,” said certified financial planner Angela Dorsey, founder of Dorsey Wealth Management in Torrance, California.

High prices, interest rates have led to bigger payments

A combination of market factors have pushed up monthly loan payments. And as personal savings have dwindled and persistent inflation has squeezed household budgets, keeping up with payments may become even more challenging.

The average price paid for a new car reached a record $47,362 in December, according to an estimate from J.D. Power and LMC Automotive.

Monthly payments in the fourth quarter averaged $717, compared with $659 a year earlier, according to Edmunds. The share of buyers who took on monthly payments of $1,000 or more reached 15.7%, compared with 10.5% a year earlier. In the fourth quarter of 2020, just 6% of borrowers had monthly auto payments that large.

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Rising interest rates also have affected affordability. The average rate paid on a new car loan was 6.5% at the end of 2022, Edmunds data shows. For used cars, the average was 10%. A year earlier, those rates were 4.1% and 7.4%, respectively.

Loan delinquencies can harm your credit score

While the auto loan delinquency rate is edging higher, the default rate is not, according to Cox. Entering default — when your lender determines you are not going to pay, usually some time after 90 days of no payments — can translate into your car being repossessed.

Yet even being too late on one payment has a negative effect on your financial life, and it can be long-lasting.

“If you’re 30 days late, it impacts your credit score,” said Brian Moody, executive editor of Kelley Blue Book.

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That’s when lenders typically report the late payment to credit-reporting firms Equifax, Experian and TransUnion.

Also, you should be aware that because your payment history is the most influential factor in your credit score — it typically accounts for 35% of it — you could see a drop of 100 points due to being 30 days late with a payment, according to NerdWallet. The longer the loan goes unpaid, the bigger the hit to your score, and that delinquency can remain on your credit report for up to seven years.

As consumers generally know, the lower your score, the more likely you are to pay higher interest rates on new loans or credit you get. Additionally, a poor score or poor credit history may cause you to pay higher premiums on auto or homeowner’s insurance and affect your ability to rent an apartment or even get a job. Employers can’t see your score, but they can check your report.

What to do if you’re struggling with auto loan bills

For car owners who are pretty sure they’re heading toward delinquency, it’s important to try preventing the problem from snowballing.

“If you sense this is coming, be on top of it,” Moody said. “Don’t do nothing. It won’t get better on its own.”

If you’re struggling to keep up because you don’t budget well, that’s at least potentially fixable, experts say. In that case, take a hard look at how you’re spending money.

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“Take a look at your overall expenses for the last few months,” said Joe Pendergast, vice president of consumer lending for Navy Federal Credit Union. “You would be amazed how much the average person spends each month without realizing it.”

However, if the payments are simply not manageable, the first thing you should do is bring your lender into the loop.

“If a consumer is struggling to make their car payments, or anticipates challenges ahead, they should reach out to their financial institution as soon as possible,” Pendergast said.

The sooner your bank or credit union is made aware, the easier it is to come up with possible solutions.Joe PendergastVice president of consumer lending for Navy Federal Credit Union

“The sooner your bank or credit union is made aware, the easier it is to come up with possible solutions,” he said.

While the options vary from lender to lender, you may be able to get a deferment — i.e., a few months without a payment — or a new loan that lowers the payments by stretching out the length. Either way, be aware that this generally would lead to paying more in interest, noted Moody of Kelley Blue Book.

However, a deferment would at least give you time to figure out how to best manage your situation, he said.

For example, you could sell your car with the intent of buying a lower-priced one — or, perhaps, even going without one if you have other transportation options. Just be aware that depending on how much you owe on the loan, the price you get for your car may not fully cover your balance, which would mean you’d still owe the lender money.

There may be a similar value gap if you opt to trade it in. While trade-in amounts have been relatively high due to used-car values being elevated, that is changing. The latest inflation reading showed a year-over-year drop of 8.8% in used car prices.

And if the amount a dealer is willing to give you is less than what you owe on the loan, you will either need to pay off the remaining balance or roll it into your new loan. This so-called negative equity averaged $5,341 in the last quarter of 2022, Edmunds data shows.

“None of these [options] are ideal,” Moody said. “They are all under the heading ‘better than nothing.’”

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GUILFORD — For only the fourth time in 50 years Breakwater Books, the town’s only independent bookstore, is for sale.

“We are not closing the bookstore,” said co-owner Paul Listro. “Rather, we are finding a new buyer for it.”

While the owners rent the space, they are selling the entire business, plus the remainder of their lease.

“We’ll hold onto it until that happens,” he said. “We are really in no rush. If this takes months or even another year, that’s what we’ll do. We’ll not close it.”

The store is a centerpiece in downtown Guilford. Large plate glass windows showcase books of all sizes, shapes and colors and offer a view of the action in center of town and the green.

Inside the 1,500-square-foot shop, tables and shelves hold an array of tomes. Chairs are scattered around, inviting visitors to sit and enjoy the quiet atmosphere.

A cozy nook in the children's section, complete with two bright blue papasan chairs, is a perfect spot for children to stop and enjoy a book.

“There’s something intimate and neighborly and friendly and resourceful about that bookstore and I love it,” said the Rev. Mary Anne Osborn, a priest at Guilford’s Christ Episcopal Church, across the green from the bookstore.

Listro and his husband, Richard Parent, purchased the store in 2019 from Liza Fixx. Previously, the store was owned by Maureen Corcoran. The original owners, Marion Harold and Marion Young, opened the store in 1972.

“Some life changes have come up that require more of our attention than we could allow while still giving the time that the store requires,” said Listro.

The couple will keep busy after the sale. They both have other professions; Parent is a media attorney and Listro is a media accountant.

The decision was not an easy one.

“We’re sad … we love the store. There have been tears in these discussions,” said Listro.

Listro recalls going to the bookstore while growing up in East Haven.

“I still pinch myself, often, that it’s now ours,” he said. “It means a lot to us and we’re going to have a very thoughtful and deliberate search to put the right people in there.”

The couple will remain at the helm until they have “the right buyer, but also the right buyer who can succeed and improve,” Listro said.

The couple has residences in both Branford and New York City. They are selling the store on their own and although they declined to share the sale price, but they did give some insight into the financial end of the sale.

“A reason we waited (to sell the store) until the end of the year was just to get one more solid calendar year behind us to be able to show a good average performance for prospective buyers over those three years of our sales and profit,” Listro said.

There are three more years on the current lease, which will transfer to the new buyer.

Since purchasing the store, Listro said he and Parent has made it more profitable. “In spite of COVID we’ve had three solid years,” he said.

Their marketing strategy was to “just buy more books and to be very thoughtful about what we thought the community would like, what we like and what would bring people outside the community to the store and that worked,” Listro said.

Osborn has been a loyal Breakwater Books’ customer since she moved to town 12 years ago.

She said she appreciates the personal service at Breakwater Books.

“I particularly love that they will order a wide variety of books, particularly in my instance, because I am an Episcopal priest, I tend to order sometimes some obscure kinds of theology books by nontraditional printers and presses,” she said.

“They will do their best to find those books,” she said.

This avid reader also appreciates the diversity of the books offered.

“They’ve added a LGBT section, which is really good,” she said.

The owners posted the sale in a couple of trade publications at the beginning of the month and were not quite ready to make a public announcement.

A member of the Facebook group Simply Guilford, CT picked it up and posted it on Saturday, Feb. 4, “which opened the floodgates,” Listro said.

This social media announcement turned out to be fortuitous.

“We’ve gotten 12 interested parties since then,” Listro said. “There’s a lot of interest, which is great.”

“Most of them live in Guilford,” he said. “We have an interested party from Torrance, California, a couple who are moving back to Connecticut. They own a bookstore, have owned a bookstore.”

There was also a myriad of Facebook comments from townspeople worried about the future of the beloved bookstore.

Osborn talked about the importance of the store in the center of town.

“I love that I run into people from town there and we can exchange ideas about ‘What book have you read?’ ‘What do you suggest,’” she said.

“It’s such a sensual pleasure to go in and see all the books, be able to touch them, turn the pages, talk to the people there, ask them what they recommend,” she said.

Listro and Parent appreciate the community support.

“The outpouring of love from this town has meant everything to us,” Listro said in a quavering voice.

“It’s been quite an experience,” he said. “We worked and work in a very tough industry, the media industry, and to spend three years having strangers — and then soon friends and neighbors –— constantly coming to the door telling us how grateful they are, it’s almost overwhelming.”

“That meant a lot,” he said. “It’s made it hard to make this decision because we didn’t want to let anyone down. Everyone liked us and it’s hard to walk away from that, but life has changed.”

They also foresee having time to relax.

“We will be doing a lot more reading,” Listro said.

“I’ll probably get more reading done after this than I have during the three years,” he said. “But that’s okay, because I know where to go to buy my books because we’re going to find a great owner and they’re going to see us often.”

Breakwater Books, 81 Whitfield St., Guilford, 203-453-4141, breakwaterbks@gmail.com; breakwaterbooks.net; Facebook Breakwater Books, Instagram breakwaterbookstore.